Reinsurance

NPA has partnered with Aon Risk Services and Partner Re to provide PACE organizations with reinsurance. The NPA reinsurance program offers several advantages when compared to what can be obtained by PACE organizations when purchasing insurance individually. These advantages include the following:

Competitive Pricing and Rate Stability

  • Premium Savings Through Program Underwriting Credits: 30 percent in accumulated premium savings through the NPA Shared Services Program compared to commercial market rates for people who are elderly and chronically ill.
  • Highly-Rated Carrier: Underwritten by Partner Re (Best rating: A Excellent; S&P A+).

Premium Refund Feature

  • Based on overall claims experience of participating members.
  • Four consecutive years (2012-2015) of refunds totaling $809,310. The most recent refund represents an average 17 percent overall refund of the paid premium.

Broad Coverage and Flexible Terms

  • Broad covered services language reflecting unique PACE capitated exposure.
  • Favorable claim recovery terms under the policy, including extended claim reporting periods and no Average Daily Maximums (ADMs) on recovery found in commercial policies.
  • Lowest minimum premiums in the marketplace, supporting start-up and modest enrollment programs.
  • Lower per-participant deductible options not traditionally available in the commercial stop-loss market.

The long-term success of this program depends on the continuing participation of PACE programs. There is no obligation to participate, and there is no downside to exploring the option. 

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Business Insurance

The property/casualty insurance program offers a full range of competitively priced coverages and appropriate limits tailored to PACE programs. Coverages include property, inland marine, crime, automobile, general liability, professional liability and excess liability.

  • Directors & Officers Liability (which includes Employment Practices Liability) provides coverage against claims arising from duties performed by directors, officers, trustees, employees or volunteers. "Wrongful Act" protection also is included for discrimination, wrongful termination and sexual harassment.
  • Workers Compensation includes value-added services regardless of the program size, including flexible underwriting and pricing, online policy and claims information, claims handling and status available 24/7, national claims network, nurse case managers and loss prevention resources available online.
  • Local brokers may access these insurance programs.

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There are more than 240 PACE centers in 31 states. Find your local PACE program.

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